Practice news

Practice Management

Illinois Business Owners Favor CPA/Lawyer Partnerships

Based on a new survey conducted by the Illinois CPA Society, 75 percent of more than 2,000 business executives have no objection to CPAs and lawyers working together as partners.Moreover, 85 percent said that they would not sever their relationship with a CPA who partnered with someone they did not know.
Practice

Reasons why Clients Leave Financial Advisors

A third of the nation's financial advisors claim it's harder to keep clients than it was five years ago. On top of that, 75 percent of these advisors say those with less than $100,000 to invest are the most difficult ones to retain.If you're a CPA and/or financial advisor, you may be experiencing much of this in today's marketplace. Why do customers leave?It all boils down to opinions from others. Clients have high expectations, and are greatly influenced by what they hear, rather than by experience. Expectations, too, have become less realistic.
Practice

Top Reporting Challenges Facing Public Companies

NEWS RELEASE: Financial Executives International (FEI), a professional association of 15,000 CFOs, controllers and treasurers, has identified the ten most critical financial reporting challenges facing public companies for the year 2001:Audit Committee Governance -- Fulfill new "independence," financial "expert" and financial "literacy" requirements for audit committees.
Practice Management

Personal Coaching an Asset for Accounting Firms

Many public accounting firms push their partners to prepare individual marketing plans that support the firm’s goals. Why are so many of these plans ineffective?As Yogi Berra once said, “If you don’t know where you’re going, you’ll likely end up someplace else.” Partners too often don’t clearly define where their plans will take them. Instead, they leave planning to a committee, service team or niche group, and they don’t bring personal coaching into the process. As a result, the plan is impersonal.
Practice Management

Using Online Tax Organizers in Your Tax Practice

How to Use Online Tax Organizers in Your Tax PracticePresented by: Tim Lenneman, CPA of Global Tax NetworkThursday, December 14, 2000The AccountingWEB Workshop RoomTopics for this workshop included: What are online tax organizers? Functionality that is important when using an online tax organizer Security and privacy matters Benefits to using
Practice Management

Intuit Expands Web Presence

Intuit, Inc., has unveiled a new Web site, IntuitAdvisor, offering a host of online solutions to help tax, accounting and financial professionals move from the physical world to the electronic world. Included in the new site's offerings is the WorkSpace Pro feature, a subscription-based service allowing professionals to establish a customized online working environment in which private client sites may be created, information may be shared, and security will be maintained.
Practice Management

Don't Miss This Trade Show Resource Site!

In today's competitive marketplace, you can't afford not to keep up on your client's needs and industries. By attending trade shows regularly, you can open the door to better practice development, marketing, and customer satisfaction, not to mention all the free giveaways and raffles.An Internet site called tsnn.com allows you to search around the US and the globe for trade shows by industry, date, or location. The site has information on lodging, flights and more. Check it out and see where your next marketing stop could be!
Practice Management

Take Charge of Your Firm’s Destiny

Watch out for unnecessary mistakes. There’s an irony of the current economic engine. While there is more business, margins are also getting thinner. That’s why IBM took its PCs out of retail venues and is selling them online.Take a close look at your company. Are we sharp? Or, do we just think we are? When we sit around the conference table and talk about ourselves, we come away convinced that we are the best.Keep mining for new customers! Good times can mask future problems.
A&A

ValueReporting: Financial Reporting for Today's Economy

In an effort to more accurately reflect the value of today's knowledge-based businesses, Big 5 firm PricewaterhouseCoopers has launched a new framework for financial reporting called ValueReporting, a new method of capturing what is important to 21st century businesses.
Practice Management

Accountants Use Industry Profiles Effectively

AccountingWEB is pleased to announce a partnership with First Research, Inc. to provide our members with the opportunity to purchase individual industry profiles in over 80 industries.If you are committed to understanding your clients' and prospects' businesses and separating your firm from its competition, then these Industry Profiles can help you achieve your mission. What are Industry Profiles?First Research, Inc. publishes targeted Industry Profiles on over 80 industries, written from a business development and marketing perspective.
Practice Management

Technology Planning in the New Millennium

Technology Planning in the New MillenniumAccountingWEB WorkshopThursday, November 9, 2000, 4:00-5:00 Eastern timeJoin Geoff Wold and Jeff Locketz, partners in LBL Technology Partners, a division of Lurie Besikof Lapidus & Company, LLP, in their live workshop presentation, "Technology Planning in the New Millennium."Taking the position that technology is always going to be changing, Mssrs.
Practice Management

RSM McGladrey Announces Insurance Alliance

RSM McGladrey, Inc., a subsidiary of H&R Block, has announced a national alliance with three major insurance companies to provide life insurance solutions for McGladrey clients.Jefferson Pilot Financial, Pacific Life Insurance Company, and National Life Insurance Company will work locally with McGladrey wealth management planning teams through a network of approximately 85 independent agents nationwide to provide insurance services to McGladrey clients.RSM McGladrey's financial planners will not receive commissions based on an individual's life insurance purchases.
Practice Management

Priceline's Troubles Continue; CFO Resigns

The high-profile Priceline.com, a name-your-own-price Web site for travel, lodging, groceries and other amenities, continues to ride a rough road. News several weeks ago that its price per share had decreased, along with a drop in consumer confidence, has forced the online site to lay off 16 percent of its employees.This equates to 87 of 535 total employees. Also leaving is Heidi Miller, Priceline's CFO, who worked for the company a short eight months.
Practice

Advising Your Clients on Section 529 College Savings Plans

Joe Hurley, founder of savingforcollege.com, and author of "The Best Way to Save for College - A Complete Guide to Section 529 Plans," presented a live workshop at AccountingWEB on Thursday, October 26.Among other things, Mr.
Practice Management

Better Proposals in Less Time

Better Proposals in Less TimePresented by: Michelle GoldenThursday October 19, 20004:00pm EDT,The AccountingWEB Workshop RoomMichelle Golden of Golden Marketing Resources, Inc., discussed techniques for preparing winning proposals and explains why bigger isn't necessarily better in an AccountingWEB workshop Thursday afternoon.Topics covered in the workshop included: * How to create winning pr
Practice Management

40 Steps to Becoming a Trusted Advisor

David Maister, author of "The Trusted Advisor," joined AccountingWEB in an online workshop today for a unique perspective of what it takes to become a successful advisor in today's competition-rich professional world.
Practice Management

Practice Management Tip: Use the 'F' Word for Meetings

How effective are meetings within your own office? If you're like most of today's dynamic firms, you are constantly interrupted by telephones, visitors and other nuisances that consistently get in the way.But how do you make meetings energetic outside the four walls of the office?It's time to use the 'F' word when it comes to company meetings or retreats ... that's 'F' for 'FUN,' of course! Meetings can be dull as dirt, unless you use your noggin' to come up with something creative, energizing and most of all, FUN! Creativity can do wonders.
Practice Management

AccountingWEB Meets AAA

Members of AccountingWEB met with representatives from the Indiana Chapter of the Association of Accounting Administrators today in an attempt to share goals and explain what the two groups have to offer each other.AAA members were treated to a tour of the AccountingWEB web site, and had an opportunity to quiz Michael Platt, AccountingWEB CEO, Kelly McRae, AccountingWEB Business Development Specialist, and Gail Perry, AccountingWEB Managing Editor on the offerings of the site.
Practice

Moms in Demand: Multi-Tasking is <FONT color="red">HOT</FONT>!

Who would have thought that mothers who stay home raising their family would be considered a red hot commodity? Trend or not, more and more companies, especially small businesses, are finding that moms who go back to work are excellent producers, thanks to their ability to multi-task.The other benefit in recruiting moms is loyalty. Companies are finding that if working moms have to leave the office to pick up the children for one reason or another, the employee is very much likely to more than make up for her time off.Take a look at the statistics.
Practice Management

Can Farmers Really Be Great Clients?

The following is an editorial by Paul Dunn, co-founder of Results Accountants' Systems.As we look around the world at great accounting practices (what we’ve called "the Practices of the New Millennium") one constant theme is the selection of clients.It’s critical, we’re often told, to select clients who you like, clients who are profitable, clients who are open to suggestions, clients who are willing to listen and so on. And farmers feature infrequently in that list for many practices.

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